HP (HPQ) to Release Quarterly Earnings on Tuesday

HP (NYSE:HPQ) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, November 26th. Analysts expect HP to post earnings of $0.93 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, analysts expect HP to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

HP Stock Performance

NYSE HPQ opened at $38.13 on Monday. The stock’s fifty day moving average is $36.36 and its two-hundred day moving average is $35.40. The firm has a market capitalization of $36.75 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 2.61 and a beta of 1.07. HP has a fifty-two week low of $27.42 and a fifty-two week high of $39.52.

HP announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently weighed in on HPQ. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Tuesday, October 1st. Barclays cut their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. UBS Group raised their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.45.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.